SNB Posts Record Profit of $39.2 Billion in First Half Year

The Swiss National Bank (SNB) has announced its profit for the first half of the year, totaling CHF25.17 billion ($39.2 billion). This significant gain is largely attributed to the SNB's foreign currency holdings, which generated a profit of CHF31.7 billion.

The breakdown of the SNB's revenue shows that equity securities and instruments accounted for CHF22.9 billion of the total, while interest income contributed CHF6.7 billion, dividend income added CHF1.7 billion, and foreign exchange gains reached CHF2.5 billion.

However, the SNB also incurred losses related to its gold holdings, which resulted in a capital loss of CHF6.4 billion due to the decline in gold prices from CHF110,919 per kilogram at the end of December to CHF104,812 per kilogram as of June 30.

The SNB has stated that it will make an allocation to its provision for currency reserves from the profit of CHF25.2 billion, which will be finalized by the end of the year.